N.C. Pension Plans Billions In Hedge Investments

Feb 7 2012 | 11:18am ET

North Carolina's main state public pension fund is set to add billions of dollars to its hedge fund allocation.

Having won legislative approval to almost double its hedge fund investments last year, the $71.8 billion North Carolina Retirement System is set to take advantage with a series of new searches for credit and equity hedge funds. No requests for proposals will be issued, with managers picked and hired on an "as needed basis," spokeswoman Julia Vail told Pensions & Investments.

The system plans to invest as much as $2 billion in new stock hedge funds over the next three to five years, a 6% allocation. North Carolina will focus on long/short strategies, Vail said.

It will also invest about $360 million in credit funds over the next two years.

North Carolina currently has about $2.44 billion invested in hedge funds, or 3.4% of its assets.

The system is also planning to invest a 2.5% increase in its broadly diversified, non-equity-based hedge fund strategies allocation allowance in private equity.


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note